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Home My WebLink About0749 . . 1 ~ :`y ~ ~ principal sum and accrued interest shall become due and payable without notice at the option of ihe holder thereof. And shall ~ duly, promptly, and fuly pe~lorm, discharge, execute, eftect, complete, and comply with and abide by each and every the stipu• : lations, agreements. tonditions, and covenants ot said promissory note and this mo~tgage, then this mortgage and the estate hereby ueated shall cease and be null and void. And the Mo~tgagors 1u~ther covenant as tollows: ~ + l. That they will pay the indebtedness, as he~einbetore provided. 2. That, in ordsr more tully to protect the security ot this mortgage. the Mortgago?s, together with and in addition to, the monthly payments under the terms oi any notes secured he~eby, o~ the tirst day ot each month unti! said note is fully paid, witl pay to the Mortgagee the tollowing sums: (~XX~4~~~~~~lft~~lV~lY~liKlt~~tOt14~1t~tXKN~1fKlliCOpQIlOp(~D~O~IOJ100~~01fI~~I~1W(OfOdjtKIIKQOl1~Jt0( ; Kaa~~qr~~oaex~~cooitzoexao~c~a~xdtxia~ooott»xax~oovu~o~d~~~c~c~c~k~tt9cRxlt~x~~cRfP~efthbcl~t~kx ~~x~~~~ ~ (b) All payments mentioned in the preceding subsection of this paragraph and all psyme~ts to be made under any note ~ secured hereby shall be added together snd the aggregate amount thereof shall be paid by the Mortgagors each month in a i single payment to be applied by the Matgagee to the following items in the oMer set torth: - ~IXX~iQ!l7lJ~i~~00!lOQXJfkMJAlU17C017Rf911f1iK00114A~D~1t9Qk40)Ql( ~ ; II. Interest o~ the note saured hereby; and ~ ; 111, Amo~tization of the p~incipal of said note. . . Any deficiency in the amount of such aggregate monthy payment shall, unless made good by the Mortgagors prior to the due ~ date of the next such payment, constitute an event oi detauft under this mortgage. The Mortgagee may collect a"late charge" i not to exceed two ce~ts (2t) for each dollar of each payme~t more than fifteen (15) days in anears to cover the extra ex• . ~ peose invoNed in handling delinque~t payments. 3. That it the total of the payments made by the Mortgagors under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the MoKgagee. to~ taxes and assessments and insurance premiums. as the wse may be, such excess shall be c~edited by the Mortgagee on subsequent payments to be made by the Mortgagors. If, however. the monthy pay ~ ; ments made by the MoRgagors under (a) oi paragraph 2 preceding shall not be sufficient to pay taxes and assessments and in- 4 surance premiums, as the case may be. when the same shall become due and payable, then the Mortgagors shall pay to the Mo~t- ~ gagee any amount necessary to make up the deticiency, on or before the date when payme~t of such taxes, assessments, or insur- ~ ance premiums shall be due. If at any time the Mortgago?s shall tender to the Mortgagee in accordance with the provisions of the note securecf hereby, tull paymeM of the entire indebtedness represented thereby, the Mortgagee shall. pay to the Mo~tBaBors all ~ amounts then remaining in the tax and insurance estrow account held in connettion with this loan. If there shatl be a defauk . under any of the provisions o( this mortgage resufting in a public sale of the premises covered hereby, or if the Mo~tgagee acquires the property otherwise afte~ default. the Mortgagee shall apply, at the time of the commencement of such proceedings or at the time the property is otherwise acquired, the balance then remaining in the funds atcumulated under (a) of paraBraPh 2 Pre~~d~°g as a credit against the amount of principal then remaining unpaid under said note. 4. That they will pay atl taxes. assessments, wate~ rates, and other govemmental or municipat charges. fines, or imposi- ~ tions, for which provision has not been made hereinbetore, and in detault thereof. the MoKgagee may pay the same and De secured by the lien•of the mortgage; and that they will prompty deliver the ofiicial receipts therefore to the~Mortgagee. 5. That they will permit. commit, or suHer no waste, impairment, or deterioration of said property or any pa~t thereot; and in the event of the failure of the Mortgagors to keep the buildings or said premises and those to' be erected on said premises, or improvements thereon, in good repair, the Mortgagee may make such repairs as in its discretion it may deem necessarY for the proper preservation thereof. and the full amount oi each and every such payment shall be immediatety due and payable, and ~ shall be secured by the liea of this mortgage. ~ - ~ 6. That they witl pay aIl and singular the costs, charges. and expenses. including reasonable IawyeYs fees, and costs of abstracts of title, incurred or paid at any time by the Mortgagee because of the failure on the paR of the Mortgagors promptly ~ and fully to periorm the agreements and covenants of said promissory note and this mortgage, and said costs, charges and ex- penses shatl be immediately due and payable and shal~,, be secured by the lien of this mortgage. j 7. That they will keep the improvements now existing or hereafter erected on the mortgaged property insured as may be ~ required from time to time by the Mortgagee against loss by tire or other. hazards, casualties, and contingencies in such amounts . i and for such periods as may be required by Mortgagee. and will pay prompty, when due, any premiums on such insurance tor pay- ~ ~ ment of which provision has not been made hereinbefore. All insurance shall be ca~ried in companies approved by Mortgagee ~ ~ and the policies and ren~wals thereof shall be held by Mortgagee and have attached thereto loss payabte clauses in favor of and ~ in form acceptable to the Mortgagee. Renewal policies shatl be delivered to Mortgagee at least 10 days prior to expiration of exist- _ g ing policy. In event of loss, they will give immediately notice by mail to Mortgagee, and Mortgagee may make proof of loss if not ~ made prompty by Mortgagors, and each insurance company concerned is hereby authorized and directed to make payment for - such loss directly to Mortgagee instead of to Mortgagors and Mortgagee jointly, and the insurance proceeds. or any part thereof. ~ may be applied bPy Mortgagee at its option either to the reduction of the indebtedness hereby secured or to tbe restoration or re- pairs of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in ex- tinguishment of the indebtedness secured hereby, all right, title and interest of the Mortgagors in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. That the Mortgagee may, at any time pending a suit upon this mortgage, appy to the couR having jurisdidion thereof for the appointment of a receiver, and such court shall forthvrith appoint a receiver of the premises covered hereby all and singu- lar, including all and singular the income. profits, issues, and revenues from whatever source derived, each and every of which, it being expressly understood. is hereby mortBaged as if specificaly set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effective funetions and powers in anywise entrusted by a court to a receiver. y ~ and such appointment shall be made by such cou~t as an admitted equity and a matter of absolute right to said Mortgagee, and ~ ~ without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said Mortgagors or the detendants, and that such rents, profits, income, issues and revenues shall be applied by such receiver accord- ~ ing to the lien of this mortgage and practice of such cou~t. . 1 ~ 9. That (a) in the eveM of any breach of this mortgage or defauR on the paR of the Mortgagors, or (b) in the event that any ~ ~ of said sums of money herein referred to be.not promptly and fuly paid without demand or notice, or (c) in the event that each ~ and every the stipulations, agreements, co~ditions and covenants of said note and tbis mortgage, are not duy, promptly and tully ~ periormed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest ~ accrued to that time, and all moneys secured hereby, shall become due and payable torthwith, or thereafter, at the option of said ~ Mortgagee, as fully and completely as if all oi the said sums of money were originaly stipulated to be paid on such day, any- r; thing in said note or in this mortgage to the contrary notwithstanding: and thereupon or thereafter, at the option of said Mort• a ~ gagee, without notice or demand, suit at law or in equity, may be Prosecuted as if all moneys secured hereby had matured prior to its institution. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same toBether with costs, expenses, and allowances. In.cases of partial toreclosure ; of this mortgage, the mortgaged premises shall be sofd subject to the continuing lien of this mortgage for the amount of the debt ; not then due and unpaid. In such case the provisions of this paragraph may again be availed oi thereafter irom time to time by ~ the Mortgagee. , - a~~~ 302 r; .E 749 ~ . _ { _ ~ ~ :y.:~~,~~~..~~~=-~ ~